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should the US consider a currency redenomination? (lemmy.zip)

submitted 10 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

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Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

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[–] TheAlbatross@lemmy.blahaj.zone 1 points 10 months ago* (last edited 10 months ago) (1 children)

Sorry, I don't think I follow as to why that's bad. If I pay, say, $1,000 in rent and earn $3,000 a month, it's the same thing as if I paid $10,000 in rent and made $30,000 a month.

While I can see how those numbers could be reduced into smaller numbers easily, I'm not sure I understand why that is beneficial. My material conditions don't change.

How does the national debt factor into that?

[–] shortwavesurfer@lemmy.zip 1 points 10 months ago

Primarily, just that the numbers are unnecessarily large and could be factored down to more manageable numbers.